Daily Market Newsletter
Thursday 30 November 2023
Steel prices & news
Source: dashboard.fastmarkets.com/m/ce24cc55-ee9d-4381-9784-bb 704fdd69
Top stories
ArcelorMittal USA follows Nucor HRC
hike, cementing $1,100-per-ton base
price
By Alesha Alka - Wednesday 29 November
ArcelorMittal increased at steel base prices at its joint-venture mill with
Nippon Steel in Calvert, Alabama, late Tuesday November 28, potentially
signaling mills’ con dence that spot prices will continue to rise in the rst
quarter of 2024, sources told Fastmarkets.
The increase, applicable to all new spot orders and all recent quotations that
have not yet been accepted by AM/NS Calvert — brings its minimum base
prices to $1,100 per short ton ($55 per hundredweight) for hot-rolled products
and $1,350 per ton ($67.50 per cwt) for cold-rolled and coated products.
The increase followed a similar announcement from Nucor on Monday
November 27.
In its letter to customers, ArcelorMittal also said that HRC orders for January
at AM/NS Calvert need to be placed by Friday December 1, and that it will
open HRC February order books for HRC at the minimum contract levels on
December 18. This could be a sign that the producer believes hot band prices
will continue to rise, sources said.
“I’m sure everyone will follow," a distributor said. "Not sure how long they will
be able to support it — sooner or later, most of the buyers will back o quote
buying unless they need something."
Said a West Coast buyer: “ArcelorMittal is the rst to mention the minimum
contract levels for February tons. It appears that they are con dent spot
prices will continue to be high in Q1."
Spot prices for HRC have steadily climbed in recent weeks.
Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was
calculated at $50.50 per cwt ($1,010 per ton) on Tuesday November 28, up by
21.19% from $41.67 per cwt on October 31 and by 44.12% from $35.04 per cwt
on October 3.
The uptrend in steel pricing and its potential continuation through the end of
the year was mentioned by JP Morgan — the equity research arm of
JPMorgan Chase & Co — on November 2, with the rm citing “recent mill
discipline and projects delays."
This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com
Zinc premiums decline in West, steady
across Asia
By Orla O'Sullivan, Josh Fulton, Shiyue Zhao - Wednesday 29 November
A global surplus of zinc supply and weak demand led to a decline in
several Western premiums in the week to Tuesday November 28, but
better demand in China left premiums in that country unchanged despite
the mounting inventory.
United States
The zinc premium in the US declined sharply under the in uence of multiple
factors, primarily surplus supply and weak end-user demand, in the week to
Tuesday.
Fastmarkets assessed the zinc SHG min 99.995% ingot premium, ddp
Midwest US, at 22.00-24.50 cents per lb on November 28, down by 8.82%
from 24.50-26.50 cents per lb on November 21.
No spot-markeet activity was reported during the week, which included the
Thanksgiving holiday in the US on November 23, with most o ces also closed
on November 24.
But Fastmarkets heard this week of a zinc trade in an earlier assessment
period in November, in which premium bids and o ers were in a range of 23-
30 cents per lb. The only business that was concluded, however, was at the
bottom of that range.
Zinc sellers lowered their o er prices sharply in response to intensifying
competition, market sources said.
One buyer, who two weeks ago said that he would not sell any surplus special
high grade (SHG) zinc with a premium of less than 26 cents per lb, this week
said that 23 cents per lb was likely to be the maximum attainable.
Most buyers were paying far higher premiums for zinc under their contracted
purchasing obligations for 2023 than the premiums now available on the spot
market. This had previously led some to hold rm on what they would charge
when selling surplus metal.
Actual trading levels became clearer after zinc market participants gathered
at a roundtable event hosted by the International Zinc Association (IZA) in
the US state of Tennessee, November 16-17, some market sources said.
“The zinc premium has dropped rapidly on multiple factors,” the rst buyer
source said.
Before this assessment period, a growing supply surplus and weak spot
demand were already well known in the market.
“It’s [the in uence of] the IZA [event], the year-end approaching, and people
not wanting to hold metal, plus the [economic outlook for] next year doesn’t
look positive.”
Above all, he said: “Sellers panicked when a lot of buyers said they would not
need any zinc in the rst quarter,” so they reduced their o ers.
A normally bullish seller source who attended the IZA event agreed that a
premium of “around 23 cents per lb” was now “fair.”
© Fastmarkets 2023
 Steel prices & news Daily Market Newsletter
Northern Europe
Fastmarkets’ weekly assessments of the zinc SHG min 99.995% ingot
premium, dp fca Rotterdam, and the zinc SHG min 99.995% ingot premium,
dp fca Antwerp, were both $240-280 per tonne on November 28, widening
downward by $10 per tonne from $250-280 per tonne on November 21.
The Northern European premium widened downward over the pricing session,
with lower assessments, o ers and bids reported by market participants.
Liquidity was thin over the weak with demand for zinc remaining poor. All
market participants agreed that the market was under pressure despite a
quiet spot market, saying that the European producers were now competing
for customers both on spot terms and on long-term contracts.
“The big producers are now o ering $250 per tonne on spot,” a trader said,
“and I’ve seen lower o ers at $240 per tonne.”
Over the assessment period, consumers were also bidding aggressively for
material. “I would only buy on spot at $220 per tonne delivered,” a consumer
in Eastern Europe said.
Consumers said that, due to poor economic conditions across Europe, they
still had stockpiles of material and therefore would only buy material on spot
at low premiums.
Conditions were particularly bad in Germany, whose manufacturing economy
continues to face problems, according to market participants.
“There don’t seem to be any signs of improvement in Germany. I’ve heard
that the automotive industry is really struggling right now,” a producer said.
Market participants also reported that German multinational Thyssenkrupp
will close its Galmed steel plant in Spain, where zinc is used to produce
galvanized steel. The plant has capacity for 450,000 tonnes per year of hot-
rolled galvanized coil, much of which goes to supply the automotive industry.
“Producers are now o ering lower premiums in anticipation of the closure,” a
second trader said.
Traders were concerned with falling premiums, however. “A customer made
an inquiry for material at less than $220 per tonne but I can’t compete with
these low numbers,” a third trader said.
Italy
Fastmarkets’ fortnightly assessment of the zinc SHG min 99.995% ingot
premium, fca dp Italy, was $290-300 per tonne on November 28, unchanged
from the previous assessment on November 14.
Market participants in Italy reported conditions comparable to those in
Northern Europe, with poor demand and no spot buying. The majority of
deals in Italy continued to be on a delivered basis.
Fastmarkets’ fortnightly assessment of the zinc SHG min 99.995% ingot
premium, ddp Italy, was $330-350 per tonne on November 28, unchanged
from the assessment on November 14.
The Italian delivered market was also very quiet over the past two weeks, with
assessments unchanged and o ers reported below the range.
“I have no new data to share,” an Italy-based trader said. “We’re getting no
demand outlook from our customers so we aren’t booking any material from
our suppliers.”
Some o ers were reported below the range but no liquidity was captured,
keeping the premium range stable.
“I think the Italians are bidding aggressively in the spot market to see if they
can push premiums lower and get a better long-term contract negotiation,”
the rst trader said.
This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com
Thursday 30 November 2023 2
Shanghai
Fastmarkets assessed the zinc SHG min 99.995% ingot premium, cif
Shanghai, at $100-120 per tonne on November 28, unchanged from a week
earlier.
The corresponding zinc min 99.995% ingot premium, in-whs Shanghai, was
also $100-120 per tonne on Tuesday, at from the previous assessment.
The import market remained quiet with the arbitrage window closed. Minimal
spot activity was heard, and wide import losses negated buyers’ interest in
overseas units.
Fastmarkets’ calculation of the zinc import arbitrage was a loss of $91.50 per
tonne on November 28, compared with a loss of $99.52 per tonne a week
earlier.
But a number of overseas cargoes were reported to have been delivered into
Shanghai bonded warehouse in the past few weeks.
“I heard that there are nearly 10,000 tonnes of zinc in bonded warehouses,
compared with about 2,000 tonnes at the end of October, because some
market participants expected the arbitrage loss to narrow,” a trader in
Shanghai said.
“Although no signi cant pickup has been seen in China’s consumption of zinc
this year,” a second source based in Shanghai said, “the metal’s performance
is still better than in Western regions, and traders [will be] looking for import
opportunities once the arbitrage window opens.”
Zinc inventories in Shanghai Futures Exchange (SHFE) warehouses reached
37,996 tonnes in the week to November 24, down week on week by 5,208
tonnes, 12.05%.
Southeast Asia
Fastmarkets assessed both the zinc SHG 99.995% ingot premium, fca
Singapore, and the corresponding zinc SHG 99.995% ingot premium, fca
Malaysia, unchanged on Tuesday from a fortnight earlier, at $100-130 per
tonne.
The zinc SHG min 99.995% ingot premium, cif Southeast Asia, was also
unchanged on Tuesday from a fortnight earlier, at $130-150 per tonne.
“The premiums have been stable in recent months, with no big changes seen
in the market,” a trader based in Singapore said, adding that downstream
demand remained “stable but slow.”
A large volume of material has been delivered into LME Singapore warehouses
in November, with inventories surging over the month.
Zinc on-warrant stocks at Singapore warehouses were 56,350 tonnes on
November 1, but soared to more than 180,000 tonnes by the end of the
month – the highest level this year.
The Port Klang warehouse in Malaysia had 8,475 tonnes of zinc stocks on
November 1, which increased to 19,800 tonnes by November 29.
© Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 3
Fastmarkets assessed the steel scrap No1 heavy melt, export yard buying
Surging dock prices signal strength for price, delivered to yard Philadelphia and delivered to yard New York at $310
per gross ton on Monday November 27, up by 6.90% from $290 per gross ton
US domestic, export ferrous scrap the previous week.

markets Fastmarkets' assessment for the steel scrap No1 heavy melt, export yard
buying price, delivered to yard Boston rose by 3.70% week on week, to $280
per gross ton on Monday from $270 per gross ton the previous week.
By Amy Hinton - Wednesday 29 November

US deep-sea ferrous scrap deals to Turkey may be on ice, but exporters
continue to pay more to secure material from dockyard recyclers in a
telltale sign that December’s scrap market may be headed up, with winter
weather and material tightness conspiring to support prices.
While the month’s cargo tally is unremarkable when compared to preceding
months — 12 cargoes were sold in September and 10 in October — scrap ows
into yards are depressed, and Turkish importers are expected to continue their
e ort to get ahead of the curve of January’s scrap quotas, which will put
additional pressure on the US domestic market in December.
A booking of seven cargoes or more in a month — constituting a minimum
210,000 tonnes based on a 30,000-tonne minimum cargo size — is considered
a drain on the domestic market.
That seven-cargo tipping point has yet to be reached in November, but scrap
ows are estimated to be down by as much as 20% by some.
And with only two feasible collection weeks in December due to winter
vacations, sellers sense that there is potential for upside that may match or
exceed that of November.
The market broadly moved up $10-20 per gross ton on cut grades, $20 per
gross ton on shred and $30 per gross ton on prime grades over the period.
The US deep-sea export market to Turkey — while quiet since November 20
— has risen by $18-19 per tonne in November over the course of six cargo
sales.
Fastmarkets calculated both the steel scrap HMS 1&2 (80:20), export index,
fob New York and the steel scrap shredded scrap, export index, fob New York
unchanged week on week, at $349.50 per tonne and $369.50 per tonne
respectively, on Tuesday. No fresh sales were reported over the calculation
period.
The lack of activity has been similar on the US West Coast, though o ers
from that coast to Asian buyers have been heard at elevated levels.
One West Coast exporter was heard to have o ered a cargo of heavy melting
scrap priced at $420 per tonne CFR, shredded at $425 per tonne CFR and
bonus material at $430 per tonne CFR to a Bangladeshi buyer.
A deal on this basis would be $20 per tonne higher than the last recorded sale
of heavy melt from the West Coast to India, reported at $400 per tonne CFR
at the beginning of November, and sideways to the shredded component of a
cargo reported on November 21, at $425 per tonne CFR.
Fastmarkets’ weekly steel scrap HMS 1&2 (80:20), export index, fob Los
Angeles held at $343 per tonne on Wednesday, stable for the fourth week
after rising by 3% on November 8.
Likewise, the steel scrap shredded scrap, export index, fob Los Angeles held at
$368 per tonne on Wednesday.
Fastmarkets’ weekly assessment of the steel scrap No1 heavy melt, export
yard buying price, delivered to yard Los Angeles rose by 2.70% to $190 per
gross ton on November 27 from $185 per gross ton the previous week.

“Cut grades need to rise by a minimum of $20-30 per gross ton and primes by
$30-60 per ton,” a seller in the export-in uenced Philadelphia market said of
next month’s capacity for price increases.

“Flows are terrible and exporters are short [material]. Bad weather may bring
things to a temporary halt. December is a short month — nothing comes in in
the last two weeks of the month, and there will be no shipments. It’s going to
be a very interesting time from now until February,” the same seller added.

Said a Midwest seller: “Flows are still down at the yard. Industrial scrap is
starting to slow in some sectors — mostly building products — due to high
interest rates. Other areas are starting to slow a bit also."

Fastmarkets last assessed the price of steel reinforcing bar (rebar) export, fob
main port Turkey at $580-585 per tonne on November 23, up by 2.19% from
$560-580 per tonne the previous week.

Sources indicated that the rise in nished product prices was a necessity
driven by rising raw material costs rather than robust demand. There have
been reports that steel demand in the region is lackluster. Prices stable in European steel HRC
Sales of an 80:20 mix of No1 and No2 heavy melting scrap are being driven markets; but mills look for late-year
toward $395 per tonne CFR, with material availability tight and Turkish mills
expected to re-enter the market for further January bookings. rises
The last ex-Europe cargoes to Turkey, heard sold on Tuesday November 28,
By India-Inés Levy - Wednesday 29 November
were priced at $386-388 per tonne CFR for HMS 1&2 (80:20).
Prices in the European markets for steel hot-rolled coil remained stable at
A US sale on this basis would equate to $391-393 per tonne CFR given the high levels on Wednesday November 29.
usual $5-per-tonne premium for US material, constituting a $3-10 per tonne
Producers were looking for price rises for materials to be delivered in the rst
increase on the last reported US deals for the grade, concluded at $383-388
quarter of 2024, but industry participants were uncertain whether these price
per tonne CFR basis 80:20 between November 17 and 20.
rises would be achieved, Fastmarkets heard.

This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 4

Fastmarkets calculated its daily steel HRC index, domestic, exw Northern
Europe, at €672.50 ($737.52) per tonne on November 29, up by €2.50 per
tonne from €670.00 per tonne on November 28.
The index was up by €12.75 per tonne week on week and by €57.29 per tonne
month on month.
Industry participants reported an increasingly wider bid-o er gap, especially
for delivery in the rst quarter of 2023.
Workable price estimates were reported by buyers at €660-680 per tonne ex-
works in Northern Europe.
Meanwhile, o ers were reported closer to €680-700 per tonne ex-works for
March delivery, with one large integrated mill raising its o er price to €720 per
tonne ex-works for late- rst-quarter delivery.
Buyers were sceptical about whether these prices would be accepted,
however, due to continuing weak demand, Fastmarkets heard.
“Mills want to achieve high prices in long-term contracts – these contracts
will be sorted by the end of December. Until then, they want to keep prices
high,” a buyer source said. “We are all in wait-and-see mode and we will see
a clearer picture in mid-December, or perhaps around Christmas.”
SSAB Americas raised prices for as-rolled, normalized, quenched and
tempered, and wide cut-to-length plate products by a minimum of $60 per
short ton e ective immediately on all new non-contract orders, according to
a customer letter dated November 28.
“This increase is in addition to the January raw material surcharge to be
announced on Thursday December 14, 2023,” SSAB Americas said in its letter.
The increase surprised market participants, since it comes amid muted
demand and ample supply.
“It seems odd to me because, of all the indicators I’m seeing, demand isn’t all
that strong," a distributor said. "Maybe the mills sense there’s an opportunity
right now, because folks typically stock up in January."
A second distributor said, “We actually thought Nucor might go higher. The
market has been stagnant for a couple months, with plenty of supply,”
adding that those factors contributed to a “soft” plate market.
Some market participants told Fastmarkets that they expect other mills to
make similar moves.
“This price increase from Nucor and SSAB will create a oor," the second
distributor said. "I expect... others to follow suit very soon."

Meanwhile, in Southern Europe, Fastmarkets calculated its daily steel HRC Said a third distributor: “I think it’s to put a oor under the slide. Inventories
index, domestic, exw Italy, at €659.50 per tonne on Wednesday, stable day- are low, so if someone needs plate, they will pay the price."
on-day.
A fourth distributor noted that “demand is stable, but [the market] seems to
be hitting the typical holiday slowdown. Lead times are short. [There is]
The Italy index was up by €20.12 per tonne week on week, and by €58.87 per
ample supply, more than demand."
tonne month on month.
Fastmarkets’ weekly price assessment for steel cut-to-length plate carbon
Earlier in the week, January-delivery HRC was o ered and traded by local
grade, fob mill US decreased by 0.75% on Tuesday, to $66 per cwt ($1,320 per
mills in Italy at €660-665 per tonne ex-works, according to market sources.
short ton) from $66.50 per cwt a week earlier.
A small number of transactions were reported at €650 per tonne ex-works.
On October 30, Nucor decreased prices by $140 per ton for its as-rolled and
normalized plate products and by $80 per ton for quench and tempered plate
Rising feedstock costs and small demand improvements could help to
products. At the time, Nucor attributed the price reductions to “higher levels
support price rises for rst-quarter delivery, market sources said.
of imported, higher-carbon emissions product and domestic participants
lowering the transaction price." Sources were split on the price decreases,
No fresh import o ers were reported on November 29.
with some saying they would spur demand and others saying it did not make
sense.
Nucor, SSAB Americas increase plate Melissa VanDervort in Pittsburgh contributed to this report.
prices despite stagnant market
By Alesha Alka - Wednesday 29 November

Nucor Plate Group and SSAB Americas raised steel plate prices and
opened order books for January on Tuesday November 28 despite ongoing
bearishness and reportedly stagnant demand exacerbated by typical
seasonal sluggishness.

Nucor increased prices for its as-rolled, normalized, and quench and
tempered steel plate products by $40 per ton ($2 per hundredweight)
e ective with new orders received from Tuesday November 28, according to a
letter to customers dated Tuesday.

This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 5
Hot-rolled coil news

US carbon, alloy imports touch 2023

low in October: Census
By Alesha Alka - Wednesday 29 November

The total volume of US imports of carbon and alloy steel tumbled in

October to its lowest level in 2023, preliminary gures from the US
International Trade Administration’s steel import monitoring system
showed.
Shipments likely fell because buyers were not eager for foreign material in
October, sources told Fastmarkets.

The US imported 1.89 million tonnes of carbon and alloy steel in October,
down by 1.48% from 1.92 million tonnes in September and down by 10.48%
from 2.11 million tonnes in October 2022, the data showed.

The fall in volumes comes in part due to a nearly 40% month-on-month

decline in hot-rolled sheet imports in the month.

The US imported 144,451 tonnes of hot-rolled sheet in October, down by

38.03% from 233,113 tonnes in September and down by 1.88% from 147,212
tonnes in October 2022, the data showed.
US plate price dips amid stable
Canada remained the top supplier of hot-rolled sheet to the US, although
demand, ample supply
volumes declined both month on month and year on year. The country
exported 66,399 tonnes of hot-rolled sheet to the US in October, down by By Alesha Alka - Wednesday 29 November
18.06% from the 81,029 tonnes shipped in September and by 29.14% from the
Carbon steel plate prices in the US decreased slightly on Tuesday
93,704 tonnes shipped in October 2022.
November 28, with market sources reporting steady demand and
abundant supply.
The second- and third-largest suppliers to the US in October were Japan and
Mexico, shipping 20,969 tonnes and 10,217 tonnes respectively. Fastmarkets’ weekly price assessment for steel cut-to-length plate carbon
grade, fob mill US decreased to $66 per hundredweight ($1,320 per short ton)
The fall in HR sheet imports in October was probably led by passive buying on Tuesday November 28 from $66.50 per cwt a week earlier.
behavior in the market, with sources telling Fastmarkets that buyers were not
eager to purchase foreign material amid bearish sentiment in the domestic
hot band market. Inputs were collected in a range of $63.00-66.50 per cwt, representing deals
on the lower end of the range and assessments.
“Buyers are not willing to pull the trigger on imports right now. Lead times for
imports keep on being pushed forward, which does not help,” a trader said in The plate market is facing increasing sluggishness due to typical seasonal
October. slowness, sources said.

Fastmarkets’ fortnightly assessment for steel hot-rolled coil, import, ddp “Demand is slow, but it’s expected during this time of year. Pricing remains
Houston averaged $655-715 per short ton ($32.75-35.75 per hundredweight) steady, with room to negotiate. Lead times are short for as-rolled plate, and
in October, up from an average of $660-710 per ton in September. most mills are out until January,” a buyer said.

Fundamental demand is stable, and there is enough material in the market,

according to sources.

Some buyers are only purchasing what is needed amid expectations that the
market is going to remain bearish through the end of the year, sources said.

“Demand is stable but seems to be hitting the typical holiday slowdown," a

distributor said. "Lead times are short, and I think most are waiting to see
Nucor’s January price letter. [There is] ample supply and more than demand,
so [it] will be interesting if Nucor goes lateral, decreases prices or tries to raise
them like the HRC mills are doing."

Nucor and SSAB Americas on Tuesday raised plate prices and opened order
books for January, surprising market participants.

Lead times are reportedly three to four weeks.

Spread between plate, HRC narrows

Meanwhile, hot-rolled coil prices in the US Midwest continued to rise during
the November 22-28 assessment period.

This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 6
HRC prices surpassed $1,000 per ton during the period, with ArcelorMittal
USA and Nucor announcing increases and establishing a base price of $1,100
per ton.
US tubular prices ride HRC wave higher
Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest averaged
in November
$49.18 per cwt during the assessment period ended Tuesday, up by 5.20%
from $46.75 per cwt one week earlier. By Mark Burgess - Wednesday 29 November

US standard pipe and welded mechanical tube prices in November rode

Thus, the spread between plate and HRC narrowed to $16.82 per cwt, down
the momentum of recent hot-rolled coil increases and consumer
by 14.84% from $19.75 per cwt one week earlier.
restocking of depleted inventory to post their rst gains since the rst
quarter of 2023.
Fastmarkets' cut-to-length plate assessment includes raw material
surcharges. Fastmarkets’ assessment for steel ERW standard pipe A53 Grade B, fob mill
US was $1,580-1,630 per short ton on Tuesday November 28, up by $100 per
ton (+6.64%) from $1,480-1,530 per ton on October 24. This was the rst
US Midwest HRC index up slightly; increase in A53B prices since March 28, when they were assessed at $1,910-
2,010 per ton.
market digests price increases
“Our demand has been fairly good, driven by the fact that everyone ran their
By Alesha Alka - Wednesday 29 November
inventories low as prices decreased [from April to October] and are now
Hot-rolled coil prices in the US Midwest stayed above $50 per restocking to higher levels,” a producer source said.
hundredweight for the third consecutive day amid reportedly stable
demand and limited supply, with the latter fueling a sense of short-term Following the shift in buying patterns, Wheatland Tube informed customers
boldness among mills, sources told Fastmarkets on Wednesday November on Tuesday of a $150 per ton price increase, e ective immediately. Maruichi
29. Leavitt Pipe & Tube also announced the same minimum $150 per ton increase
late on Tuesday. These increases didn’t factor into Fastmarkets’ assessment
Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was
since buyers were still digesting these price hikes.
calculated at $50.56 per cwt ($1,011.20 per short ton) on Wednesday,
virtually at from $50.50 per cwt on Tuesday November 28 but up by 4.92%
But the import front didn’t show the same level of improvement as
from $48.19 per cwt on November 22.
experienced domestically. Fastmarkets’ assessment for steel ERW standard
pipe A53 Grade B, cif Houston was up 1.17% to $1,270-1,320 per short ton on
November 28, compared with $1,255-1,305 per ton on October 24.
Inputs were collected in both the buyer and seller sub-indices in a range of
$47-55 per cwt, representing deals, o ers and assessments. Inputs were
“Imports haven’t moved as much, but I do think master distributors and
carried over in the seller sub-index to minimize day-to-day index volatility.
importers are taking advantage of the current price environment and moving
their prices up a little bit,” the producer said.
Heard in the market
Limited hot band supply has contributed to a sense of near-term con dence
A trader source who deals extensively with the import market hopes
among the mills, sources said, referencing price increases by Nucor and
November’s increase is just a sign of things to come.
ArcelorMittal earlier this week, setting an $1,100-per-short-ton base price for
HRC.
“All the mills are warning that prices will go up,” he said. “I just hope that the
trend continues and that the market gets a bit healthier in the rst quarter of
2024.”
Demand for hot band is reportedly stable, and while it will take some time for
service centers to replenish their inventories, some sources believe that once
In the domestic market, Fastmarkets' assessment of steel welded mechanical
inventories are at healthy levels, steel consumption will soften due to high
tubing ASTM A513, fob mill US rose 19.22% month on month to $1,480-1,560
interest rates impacting buyers’ decisions to purchase steel-consuming
per ton on November 28, up from $1,250-1,300 per ton on October 24.
products.
Sources attributed most of the positive momentum to inventory replenishing
Lead times reportedly remain as far out as January.
and to recent price hikes in HRC and in domestic hollow structural sections
(HSS).
Quote of the day
“It was a big surprise that Nucor came out with $1,100 [per ton] today, but I
Atlas Tube informed customers on Monday of a $150 per ton increase in HSS
also think it is a bit telling of what they see in the market. It was only a couple
prices. Bull Moose Tube and Welded Tube of Canada were among other
weeks ago that they were advertising keeping prices stable below $1,000 [per
producers who followed.
ton] in order to promote longevity on pricing — and then this,” a buyer said.
The domestic HSS increase wasn’t felt in the import market, primarily due to
low liquidity. Buyers currently prefer domestic material due to extended lead
times for imports, sources said.

The monthly assessment for steel hollow sections ASTM 500 Grade B import,
ddp US port of entry fell by 1.29% to $1,120-1,180 per ton on November 28,
down from $1,150-1,180 per ton on October 24.

“Import pricing is pretty low and is still not creating much demand,” the
trader source said.

This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter
Iron ore prices rebound on increase in
trading
By Norman Fong - Wednesday 29 November
Seaborne iron ore prices edged up slightly on Wednesday November 29, in
line with an increase in trading for end-December loading cargoes.
Iron ore market participants remain split on the outlook for prices in the run-
up to the end of the year, with downstream steel demand showing signs of
tapering in the winter season, sources told Fastmarkets.
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity
Exchange (DCE) was up by 0.47% from the previous closing price of 951 yuan
($134) per tonne.
And by 6:49pm Singapore time, the most-traded January contract on the
Singapore Exchange (SGX) moved up by $0.92 per tonne compared with the
previous settlement price of $128.80 per tonne.
Buying activity resumed in the iron ore derivatives market following a broad-
based sell-o in ferrous-related futures since the start of the week.
“The market is taking some time to process the trajectory of iron ore pricing
in the coming days and whether there is [likely to be any] further downside in
prices, in line with softening steel demand,” a trader based in Hong Kong
said.
“Traders will have to determine if the sentiment-led rally through November
will be sustainable going into December - when physical demand for
construction materials is expected to be thin,” the trader added.
A Singapore-based trader told Fastmarkets that demand for downstream
steel has continued to taper o from its fourth-quarter peak in mid-
November and said that demand for construction materials was expected to
decline further.
“Mills are continuing to wind down steel production, [because] reinforcing bar
and hot rolled coil prices have reached their peak,” a trader based in
Shanghai said. “This is expected to result in lower demand for raw materials
in the coming weeks,”
An increase in the number of iron ore shipments arriving at Chinese ports,
coupled with a visible dip in consumption by end users, is exerting signi cant
downward pressure on prices in the portside market, a trader in Shandong
told Fastmarkets.
The trader said that more iron ore shipments are expected to arrive in
December following an uptick in November shipment volumes from major
exporters Australia and Brazil.
Trading activity in the seaborne market has been robust, with an increase in
number of end-December and January-loading cargoes o ered in the
market.
Forward speculation about iron ore prices in the Chinese market for the rst
two months of 2024 is incentivizing major trading houses to take up open
positions by procuring additional volumes from the seaborne market, a
second trader in Shanghai said.
The trader added that the expectation of a wider arbitrage between the
yuan-based iron ore market and the dollar-based seaborne market, ahead of
the Lunar New Year holiday in early February, was driving sentiment in the
seaborne spot market.
This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com
Thursday 30 November 2023 7
Concentrates, pellet feed
Pellet feed premiums continued to soften on Wednesday, in line with weaker
buying interest from seaborne buyers.
Falling iron ore lump premiums in both the portside and seaborne markets,
have weighed on end-user demand for iron ore pellet, with some sellers
having to lower their existing o ers to incentivize further trade.
Weaker demand from Europe in the rst quarter of 2024 is expected to give
rise to additional pellet feed volumes being diverted toward the CFR China
market, creating a downward pressure on premiums in 2024, a trader based
in Europe said.
The uncertainty over sintering restrictions during the winter season in China
has also led to weaker buying sentiments, with end users less amenable to
procuring large cargoes at existing premiums, according to a Beijing-based
seller source.
Nonetheless, some market participants continued to be optimistic in their
outlook for pellet feed premiums.
A Hebei-based trader told Fastmarkets that the continued uptick in coke
prices in the domestic Chinese market was expected to support demand for
iron ore pellet, which would have a positive impact on iron ore pellet feed
imports.
The trader said pellet-feed supplies in China were expected to remain tight
throughout the winter season, in line with a suspension of mining activity,
thereby incentivizing pellet feed imports.
“Smaller parcels of pellet feed with a short sail time would be preferred by
most end users, including domestic pelletizers,” a Beijing-based trader said,
“which is why sellers are actively seeking multiple buyers for their larger
cargoes.”
Fastmarkets iron ore indices
62% Fe nes, cfr Qingdao: $130.45 per tonne, up $1.04 per tonne
62% Fe low-alumina nes, cfr Qingdao: $130.89 per tonne, up $1.07 per tonne
58% Fe nes high-grade premium, cfr Qingdao: $121.80 per tonne, up $1.02
per tonne
65% Fe Brazil-origin nes, cfr Qingdao: $143.07 per tonne, up $0.64 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1800 per dry
metric tonne unit (dmtu),up $0.0100 per dmtu
62% Fe nes, fot Qingdao: 988 yuan per wet metric tonne (implied 62% Fe
China Port Price: $129.2 per dry tonne), up by 4 yuan per wmt
67.5% Fe pellet feed premium, cfr Qingdao: $6.00 per tonne, down $0.30 per
tonne
67.5% Fe pellet feed, cfr Qingdao: $154.22 per tonne, up $0.69 per tonne
65% Fe concentrate premium, cfr Qingdao: $0.20 per tonne, unchanged
65% Fe concentrate, cfr Qingdao: $142.24 per tonne, up $0.99 per tonne
Trades/o ers/bids heard in the market
BHP, globalORE, 90,000 tonnes of 62% Fe Newman nes, traded at $129.90
per tonne CFR Qingdao, laycan December 16-25
BHP, Beijing Iron Ore Trading Center (Corex), 80,000 tonnes of 60.8% Fe
Mining Area C nes, traded at $125.90 per tonne CFR Qingdao, laycan
December 16-25
Rio Tinto, Corex, 170,000 tonnes of 62% Fe Pilbara Blend nes, traded at the
January average of a 62% Fe index plus a premium of $2.25 per tonne, laycan
December 31-January 9
Rio Tinto, globalORE, 170,000 tonnes of 62% Fe Pilbara Blend nes, traded at
the January average of a 62% Fe index plus a premium of $2.30 per tonne,
laycan December 31-January 9
Rio Tinto, globalORE, 170,000 tonnes of 62% Fe Pilbara Blend nes, traded at
the January average of a 62% Fe index plus a premium of $2.30 per tonne,
laycan January 1-10
© Fastmarkets 2023
 Steel prices & news Daily Market Newsletter
BHP, Corex, 90,000 tonnes of 62.7% Fe Newman Blend lump, traded at the
January average of a 62% Fe index on an FOB Australia basis plus a lump
premium of $0.1850 per dry metric tonne unit, laycan December 31-January 9
CSN, tender, 169,958 tonnes of 61.10% Fe IOC6 nes, traded at the January
average of a 62% Fe index with a discount of $3.00 per tonne, bill of lading
dated November 24
Corex, 170,000 tonnes of 65% Fe Iron Ore Carajas nes, o ered at $143.10 per
tonne CFR Qingdao, laycan November 22-December 1
Corex, 170,000 tonnes of 65% Fe Iron Ore Carajas nes, o ered at the
January average of Fastmarkets’ index for iron ore 65% Fe Brazil-origin nes,
CFR Qingdao with a premium of $1.90 per tonne, laycan November 22-
December 1
Vale, tender, 170,000 tonnes of 53.54% Fe Sinter Feed High Silica Guaiba,
traded at the average of Fastmarkets’ index for iron ore 62% Fe nes, CFR
Qingdao at the month of the notice of readiness at the port of discharge with
a discount of 17.5%, bill of lading dated November 21
Market participant indications
Fastmarkets' index for iron ore 62% Fe nes CFR Qingdao
Pilbara Blend nes: $129.75-131.50 per tonne
Brazilian Blend nes: $130.96-131.50 per tonne
Jimblebar nes: $124.56-129.28 per tonne
Fastmarkets' index for iron ore 65% Fe Brazil-origin nes CFR Qingdao
Iron Ore Carajas: $141.00-144.50 per tonne
Fastmarkets' index for iron ore 67.5% Fe Pellet Feed Premium, CFR Qingdao
Minas Rio BFPF Pellet Feed: $1.00 per tonne
Atacama CNN Pellet Feed: $1.75-3.00 per tonne
Romeral Pellet Feed: $3.00-4.00 per tonne
Huasco Premium Pellet Feed: $5.50-6.50 per tonne
Shougang Hierro Peru Pellet Feed: $6.50 per tonne
Kaunis Pellet Feed: $5.50-6.50 per tonne
Metinvest 68% Pellet Feed: $5.00-6.50 per tonne
Fastmarkets' index for iron ore 65% Fe Concentrate Premium, CFR Qingdao
Citic Paci c Concentrate: $4.00 to $6.00 per tonne
ArcelorMittal Concentrate: $(3.50) to $(1.80) per tonne
Champion Iron Concentrate: $(4.00) to $(2.50) per tonne
SIMEC Concentrate: $5.20 per tonne
Port prices
Pilbara Blend nes were traded at 975-985 yuan per wmt in Shandong
province and the ports of Tangshan city on Wednesday, compared with 967-
988 yuan per wmt on Tuesday.
The latest range is equivalent to about $127-129 per tonne in the seaborne
market.
Dalian Commodity Exchange
The most-traded January iron ore futures contract on the exchange closed at
955.5 yuan ($135) per tonne on Wednesday, up by 4.50 yuan from the
previous closing price.
This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com
Thursday 30 November 2023 8
China’s domestic HRC prices dip amid
destocking e orts
By Jessica Zong - Wednesday 29 November
China's domestic sellers decreased hot-rolled coil prices slightly on
Wednesday November 29 to generate higher sales volumes, sources told
Fastmarkets.
Domestic
Fastmarkets’ price assessment for steel hot-rolled coil domestic, ex-whs
Eastern China (Shanghai) was 3,960-3,980 yuan ($558-561) per tonne on
Wednesday, widening downward by 10 yuan per tonne from 3,970-3,980 yuan
on Tuesday.
Some sellers o ered 3,960-3,970 yuan per tonne on Wednesday, with a
decrease of 10 yuan per tonne from Tuesday to attract buyers.
A trader in Shanghai said downstream buyers found it di cult to buy HRC at
these prices.
Downstream factories said they were unable to gain pro t if the HRC price is
above 3,900 yuan per tonne, the trader said.
Consequently, the decrease of 10 yuan per tonne failed to stimulate purchase
interest, sources said.
Some other sellers maintained o ers at 3,970-3,980 yuan per tonne and took
wait-and-see approaches.
These sellers thought high production costs would support HRC prices.
For instance, steel mills in Hebei raised purchase prices for coke by 100-110
yuan per tonne to 2,510 yuan per tonne for premium wet quenching coke on
Tuesday November 28, a second trader in Shanghai said.
Export
Fastmarkets calculated its steel hot-rolled coil index export, fob main port
China at $562.50 per tonne on Wednesday, down by $0.83 per tonne from
$563.33 per tonne on Tuesday.
A few deals of 3mm SS400 HRC were heard on Wednesday and prices were
around $560 per tonne FOB China.
Prices for SAE1006 HRC were heard at $580 per tonne FOB.
O ers of SS400 HRC decreased slightly on Wednesday following the weak
futures market, sources said.
Small, privately-owned mills o ered the product at $565-567 per tonne FOB
China on Wednesday, but trade houses o ered these mills' HRC at $547-555
per tonne FOB, down by $3 per tonne from Tuesday's $550-558 per tonne
FOB.
Larger, state-owned mills maintained their HRC o ers at $580-590 per tonne
FOB China for 3mm SS400-HRC, the same as the preceding day.
Market chatter
“China's export prices of HRC are lower than competitors in other regions, so
China's exporters can get orders,” an exporter in Shanghai said.
For instance, Fastmarkets' assessment for steel hot-rolled coil export, fob
Black Sea, CIS was $585-595 per tonne on Monday November 27.
© Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 9
Shanghai Futures Exchange
The most-traded January HRC futures contract closed at 4,006 yuan per
tonne on Wednesday, down by 7 yuan per tonne from 4,013 yuan per tonne
on Tuesday.

Hot-rolled steel prices

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0028 Steel hot-rolled coil index domestic, exw Northern Europe, €/tonne 29 Nov 2023 672.5 0.37% Oct 2023 616.63

MB-STE-0046 Steel hot-rolled coil import, cfr main port Northern Europe, €/tonne 29 Nov 2023 630 - 650 1.59% Oct 2023 588.75 - 600

MB-STE-0047 Steel hot-rolled coil import, cfr main port Southern Europe, €/tonne 29 Nov 2023 620 - 650 1.60% Oct 2023 581.25 - 600

MB-STE-0532 Steel hot-rolled coil domestic, exw Central Europe, €/tonne 29 Nov 2023 650 - 660 1.55% Oct 2023 607.5 - 620

MB-STE-0892 Steel hot-rolled coil index domestic, exw Italy, €/tonne 29 Nov 2023 659.5 0.00% Oct 2023 600.08

MB-STE-0893 Steel hot-rolled coil domestic, exw Spain, €/tonne 29 Nov 2023 650 - 660 1.55% Oct 2023 605 - 621.25

MB-STE-0107 Steel hot-rolled coil export, fob main port Turkey, $/tonne 24 Nov 2023 640 - 660 0.00% Oct 2023 627.5 - 647.5

MB-STE-0105 Steel hot-rolled coil import, cfr main port Turkey, $/tonne 24 Nov 2023 590 - 610 1.69% Oct 2023 557.5 - 582.5

MB-STE-0108 Steel hot-rolled coil domestic, exw Turkey, $/tonne 24 Nov 2023 650 - 670 0.00% Oct 2023 627.5 - 650

MB-STE-0014 Steel hot-rolled coil export, fob Black Sea, CIS, $/tonne 27 Nov 2023 585 - 595 3.51% Oct 2023 563 - 577

Steel hot-rolled sheet domestic, cpt Moscow, Russia, rubles/tonne

MB-STE-0065 02 Oct 2023 64000 - 67600 0.00% Oct 2023 64000 - 66800
incl. VAT

MB-STE-0184 Steel hot-rolled coil index, fob mill US Midwest, $/cwt 29 Nov 2023 50.56 0.12% Oct 2023 37.21

MB-STE-0903 Steel hot-rolled coil index, fob mill US South, $/cwt 29 Nov 2023 50.13 2.70% Oct 2023 37.01

MB-STE-0180 Steel hot-rolled coil, import, ddp Houston, $/short ton 22 Nov 2023 840 - 900 10.13% Oct 2023 655 - 715

MB-STE-0007 Steel hot-rolled coil domestic monthly, exw Brazil, reais/tonne 10 Nov 2023 3850 - 4000 0.00% Oct 2023 3850 - 4000

Steel hot-rolled coil (dry) export, fob main port Latin America,
MB-STE-0133 24 Nov 2023 550 - 560 0.00% Oct 2023 535 - 555
$/tonne

MB-STE-0102 Steel hot-rolled coil import, cfr main ports South America, $/tonne 24 Nov 2023 610 - 650 2.02% Oct 2023 582.5 - 613.75

MB-STE-0444 Steel hot-rolled coil import, cfr main port India, $/tonne 24 Nov 2023 600 - 605 0.00% Oct 2023 582.5 - 587.5

MB-STE-0445 Steel hot-rolled coil (CR grade) import, cfr main port India, $/tonne 24 Nov 2023 610 - 615 0.00% Oct 2023 592.5 - 602.5

MB-STE-0442 Steel hot-rolled coil (commodity) export, fob main port India, $/tonne 24 Nov 2023 640 - 655 0.00% Oct 2023 600 - 640

MB-STE-0436 Steel hot-rolled coil domestic, ex-whse India, rupees/tonne 24 Nov 2023 58500 - 59500 0.00% Oct 2023 58500 - 59500

MB-STE-0158 Steel hot-rolled coil domestic, exw Northern China, yuan/tonne 24 Nov 2023 3940 - 3950 -0.50% Oct 2023 3743.33 - 3766.67

MB-STE-0144 Steel hot-rolled coil index export, fob main port China, $/tonne 29 Nov 2023 562.5 -0.15% Oct 2023 527.55

MB-STE-0154 Steel hot-rolled coil domestic, ex-whs Eastern China, yuan/tonne 29 Nov 2023 3960 - 3980 -0.13% Oct 2023 3755.29 - 3770

MB-STE-0139 Steel hot-rolled coil import, cfr Vietnam, $/tonne 24 Nov 2023 575 - 580 -0.86% Oct 2023 553.75 - 562.5

Steel hot-rolled coil (Japan, Korea, Taiwan-origin), import, cfr

MB-STE-0888 24 Nov 2023 600 - 610 0.00% Oct 2023 581.25 - 596.25
Vietnam, $/tonne

MB-STE-0125 Steel hot-rolled coil import, cfr Jebel Ali, UAE, $/tonne 28 Nov 2023 585 - 605 -2.86% Oct 2023 572 - 600

MB-STE-0113 Steel hot-rolled coil import, cfr Saudi Arabia, $/tonne 28 Nov 2023 650 - 660 1.55% Oct 2023 619.8 - 630

Cold-rolled steel prices

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0005 Steel cold-rolled coil domestic monthly, exw Brazil, reais/tonne 10 Nov 2023 4400 - 4600 0.00% Oct 2023 4400 - 4600

MB-STE-0012 Steel cold-rolled coil export, fob Black Sea, CIS, $/tonne 27 Nov 2023 670 - 690 3.82% Oct 2023 648 - 662

This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 10
Symbol Description Date Price +/- Month Monthly Average

MB-STE-0026 Steel cold-rolled coil domestic, exw Northern Europe, €/tonne 29 Nov 2023 750 - 760 0.33% Oct 2023 705 - 718.75

MB-STE-0027 Steel cold-rolled coil domestic, exw Southern Europe, €/tonne 29 Nov 2023 740 - 750 1.02% Oct 2023 702.5 - 710

MB-STE-0044 Steel cold-rolled coil import, cfr main port Northern Europe, €/tonne 29 Nov 2023 695 - 710 0.00% Oct 2023 672.5 - 687.5

MB-STE-0045 Steel cold-rolled coil import, cfr main port Southern Europe, €/tonne 29 Nov 2023 695 - 710 0.00% Oct 2023 670 - 680

Steel cold-rolled sheet domestic, cpt Moscow, Russia, rubles/tonne incl.

MB-STE-0064 02 Oct 2023 76500 - 79500 0.00% Oct 2023 75750 - 77875
VAT

MB-STE-0103 Steel cold-rolled coil import, cfr main ports South America, $/tonne 24 Nov 2023 690 - 715 0.72% Oct 2023 640 - 662.5

MB-STE-0106 Steel cold-rolled coil import, cfr main port Turkey, $/tonne 24 Nov 2023 690 - 710 2.56% Oct 2023 676.25 - 685

MB-STE-0109 Steel cold-rolled coil domestic, exw Turkey, $/tonne 24 Nov 2023 750 - 780 2.68% Oct 2023 715 - 740

MB-STE-0124 Steel cold-rolled coil import, cfr Jebel Ali, UAE, $/tonne 28 Nov 2023 670 - 680 0.00% Oct 2023 639 - 660

MB-STE-0132 Steel cold-rolled coil export, fob main port Latin America, $/tonne 03 Nov 2023 665 - 670 -5.32% Oct 2023 700 - 710

MB-STE-0145 Steel cold-rolled coil export, fob China main port, $/tonne 28 Nov 2023 650 - 660 0.77% Oct 2023 615 - 630

MB-STE-0153 Steel cold-rolled coil domestic, ex-whs Eastern China, yuan/tonne 24 Nov 2023 4730 - 4800 -0.21% Oct 2023 4710 - 4760

MB-STE-0181 Steel cold-rolled coil, import, ddp Houston, $/short ton 22 Nov 2023 950 - 1000 5.98% Oct 2023 830 - 850

MB-STE-0185 Steel cold-rolled coil, fob mill US, $/cwt 22 Nov 2023 59 2.61% Oct 2023 46.25

MB-STE-0435 Steel cold-rolled coil domestic, ex-whse India, rupees/tonne 24 Nov 2023 63500 - 64500 0.00% Oct 2023 63500 - 64500

MB-STE-0443 Steel cold-rolled coil import, cfr main port India, $/tonne 24 Nov 2023 630 - 635 -0.39% Oct 2023 626.25 - 636.25

Galvanized steel prices

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0883 Steel hot-dipped galvanized coil (hot-rolled base), fob mill US, $/cwt 22 Nov 2023 56 4.67% Oct 2023 42.63

MB-STE-0780 Steel hot-dipped galvanized export, fob Turkey, $/tonne 24 Nov 2023 830 - 840 3.09% Oct 2023 790 - 811.25

MB-STE-0434 Steel hot-dipped galvanized coil domestic, ex-whse India, rupees/tonne 24 Nov 2023 70500 - 71500 0.00% Oct 2023 70500 - 71500

Steel hot-dipped galvanized coil domestic, exw Southern Europe,

MB-STE-0031 29 Nov 2023 750 - 770 0.66% Oct 2023 717.5 - 730
€/tonne

Steel hot-dipped galvanized coil import, cfr main ports South America,
MB-STE-0104 24 Nov 2023 730 - 750 0.00% Oct 2023 716.25 - 745
$/tonne

Steel hot-dipped galvanized coil import, cfr main port Northern Europe,
MB-STE-0091 29 Nov 2023 790 - 795 0.00% Oct 2023 785 - 795
€/tonne

Steel hot-dipped galvanized coil domestic, ex-whs Eastern China,

MB-STE-0021 24 Nov 2023 5060 - 5110 -0.78% Oct 2023 5050 - 5106.67
yuan/tonne

MB-STE-0110 Steel hot-dipped galvanized coil domestic, exw Turkey, $/tonne 24 Nov 2023 830 - 840 3.09% Oct 2023 790 - 811.25

Steel hot-dipped galvanized coil import, cfr main port Southern Europe,
MB-STE-0048 29 Nov 2023 770 - 795 0.00% Oct 2023 786.25 - 796.25
€/tonne

Steel hot-dipped galvanized coil domestic, exw Northern Europe,

MB-STE-0030 29 Nov 2023 770 - 780 0.00% Oct 2023 725 - 732.5
€/tonne

MB-STE-0123 Steel hot-dipped-galvanized coil import, cfr Jebel Ali, UAE, $/tonne 28 Nov 2023 770 - 780 -1.90% Oct 2023 776 - 818

MB-STE-0186 Steel hot-dipped galvanized coil (cold-rolled base), fob mill US, $/cwt 22 Nov 2023 60 4.35% Oct 2023 46.5

Steel hot-dipped galvanized coil domestic monthly, exw Brazil,

MB-STE-0006 10 Nov 2023 5000 - 5800 -9.24% Oct 2023 5800 - 6100
reais/tonne

MB-STE-0441 Steel hot-dipped galvanized coil export, fob main port India, $/tonne 24 Nov 2023 810 - 830 2.50% Oct 2023 790 - 810

MB-STE-0182 Steel hot-dipped galvanized 0.012 inch G30, ddp Houston, $/short ton 22 Nov 2023 1130 - 1220 1.73% Oct 2023 1200 - 1280

This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 11
Symbol Description Date Price +/- Month Monthly Average

Steel hot-dipped galvanized coil 0.03-0.13 inch G90 (cold-rolled base),

MB-STE-0212 22 Nov 2023 68 3.82% Oct 2023 54.5
fob mill US, $/cwt

MB-STE-0009 Steel galvanized coil 1mm export, fob main port China, $/tonne 28 Nov 2023 690 - 725 0.00% Oct 2023 658.75 - 692.5

MB-STE-0111 Steel prepainted galvanized domestic, exw Turkey, $/tonne 24 Nov 2023 930 - 940 2.19% Oct 2023 891.25 - 907.5

MB-STE-0187 Steel coil Galvalume, fob mill US, $/cwt 21 Nov 2023 54 14.89% Oct 2023 47

MB-STE-0850 Steel coil Galvalume import, cfr main ports South America, $/tonne 24 Nov 2023 790 - 810 0.00% Oct 2023 782.5 - 802.5

Steel plate prices

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0034 Steel domestic plate 8-40mm, exw Northern Europe, €/tonne 29 Nov 2023 800 - 810 0.00% Oct 2023 770 - 797.5

MB-STE-0035 Steel domestic plate 8-40mm, exw Southern Europe, €/tonne 29 Nov 2023 720 - 740 0.69% Oct 2023 680 - 695

MB-STE-0049 Steel plate (8-40mm) import, cfr main port Northern Europe, €/tonne 29 Nov 2023 660 - 700 0.00% Oct 2023 665 - 670

MB-STE-0050 Steel plate (8-40mm) import, cfr main port Southern Europe, €/tonne 29 Nov 2023 660 - 690 1.50% Oct 2023 650 - 665

MB-STE-0101 Steel plate import, cfr main ports South America, $/tonne 24 Nov 2023 650 - 695 0.00% Oct 2023 622.5 - 682.5

Steel heavy plate (thicker than 10mm) export, fob main port Latin
MB-STE-0134 03 Nov 2023 640 - 650 0.00% Oct 2023 640 - 650
America, $/tonne

MB-STE-0146 Steel heavy plate export, fob China main port, $/tonne 28 Nov 2023 565 - 575 0.44% Oct 2023 537.5 - 555

MB-STE-0155 Steel plate domestic, ex-whs Eastern China, yuan/tonne 24 Nov 2023 3900 - 3960 -0.76% Oct 2023 3766.67 - 3816.67

MB-STE-0172 Steel cut-to-length plate carbon grade, fob mill US, $/cwt 28 Nov 2023 66 -0.75% Oct 2023 71.1

MB-STE-0179 Steel medium plate, import, ddp Houston, $/short ton 22 Nov 2023 1180 - 1240 -2.42% Oct 2023 1125 - 1195

MB-STE-0437 Steel heavy plate domestic, ex-whse India, rupees/tonne 24 Nov 2023 61500 - 64500 0.00% Oct 2023 61500 - 64500

MB-STE-0439 Steel heavy plate 12-40mm export, fob main port India, $/tonne 24 Nov 2023 680 - 710 2.58% Oct 2023 722.5 - 732.5

MB-STE-0446 Steel heavy plate 10-40mm import, cfr main port India, $/tonne 24 Nov 2023 630 - 645 0.39% Oct 2023 678.75 - 691.25

MB-STE-0514 Steel plate domestic, cpt Moscow, Russia, rubles/tonne incl. VAT 02 Oct 2023 76000 - 79500 0.00% Oct 2023 76000 - 79500

Overall downstream steel demand remained subdued, with declining steel

Rebar news
prices and fewer steel mill tenders.

China ferro-silicon prices dip amid
lower steel prices, cautious sentiment
By Jessica Long - Wednesday 29 November
Chinese ferro-silicon prices fell in the week to Wednesday November 29,
following those in the downstream steel market and because of cautious
sentiment among market participants, sources told Fastmarkets.
Fastmarkets’ price assessment for ferro-silicon, 75% Si min, in-whs China was
7,000-7,200 yuan ($1,000-1,014) per tonne on Wednesday November 29,
down by 100 yuan per tonne from 7,100-7,300 yuan per tonne a week earlier.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar)
domestic, ex-whs Northeren China was 3,840-3,880 yuan per tonne on
November 24, down by 40-50 yuan per tonne from 3,890-3,920 yuan per
tonne a week earlier.
Continually declining steel mill tender prices have negatively a ected the
con dence of many upstream ferro-silicon market participants, leading them
to stay on the sidelines and wait for the guidance of next round of steel mill
tenders, sources said.
“Some steel mills yesterday have released their 75% ferro-silicon tenders at
7,000-7,200 yuan per tonne, which was around 40-50 yuan per tonne lower
than the previous round steel mill tenders,” a ferro-silicon trader source said.

Fastmarkets’ price assessment for ferro-silicon, 75% Si min, export, fob China The trader added, “Most market participants conducted hand-to-mouth
was $1,260-1,300 per tonne on Wednesday, dwon by $30-50 per tonne from purchases and have less willingness to pre-stock before the new year amid
$1,290-1,350 a week earlier. increasing wait-and-see market sentiment.”

Fastmarkets’ price assessment for ferro-silicon, 75% Si min, cif Japan — which Downstream steel demand has not improved, with upstream ferro silicon
covers Chinese material shipped to Japan — was $1,270-1,320 per tonne on piling up among some ferro silicon production hubs, multiple sources told
Wednesday, down by $20-50 per tonne from $1,290-1,370 a week earlier. Fastmarkets.

In addition, news of lower semi-coke, a key raw material in ferro-silicon

This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
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If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter
production, prices in Inner Mongolia failed to prevent the current ferro-silicon
price from dropping.
“I heard that mainstream semi-coke producers in Inner Mongolia have started
to lower their o ers to 1,150-1,200 yuan per tonne, starting from November
29, approximately 30 yuan per tonne lower than previous weeks,” a second
ferro-silicon trader source said.
A third ferro-silicon trader said: “December is approaching, so many ferro-
silicon market participants choose to wait and see the guidance of the new
round of tenders from the major steel producers, so that they can have a
clear picture about how [prices will move].”
Optimus locks in scrap supply with
share of Prestige Auto and Metal
Recycling
By Amy Hinton - Wednesday 29 November
Texas steelmaker Optimus has moved to secure scrap to feed its
Beaumont mill via the acquisition of a portion of nearby Prestige Auto
and Metal Recycling, sources familiar with the matter con rmed to
Fastmarkets.
Prestige will retain its auto parts business while divesting only an unspeci ed
percentage of its scrap-recycling operations to Optimus for an undisclosed
sum.
Fastmarkets understands that the steelmaker does not intend to fully
integrate a scrap arm into its business, nor is it seeking a 100% share of a
scrap operation.
Prestige’s Houston yard, which is home to a 100-tons-per-hour auto shredder
— the installation of which was announced in late 2021 — is located
approximately 90 miles from Optimus’ Beaumont mill.
The mill, which produces wire rod, coiled rebar and billet, is slated to double
its rolling capacity to 1.6 million tons from 800,000 tons by the end of 2024,
the company announced in June 2023.
Fastmarkets last assessed the steel scrap shredded auto scrap, consumer
buying price, delivered mill Houston at $380 per gross ton on November 7, up
by $20 per gross ton from the previous assessment of $360 per ton on
October 10.
China’s domestic rebar prices continue
spiraling down on slow demand
By Jessica Zong - Wednesday 29 November
China’s domestic rebar prices maintained their downward trend on
Wednesday November 29, due to weak demand from both end users and
trading houses, sources said.
Domestic
Fastmarkets’ daily price assessment for steel reinforcing bar (rebar) domestic,
ex-whs Eastern China was 3,880-3,900 yuan ($546-549) per tonne on
Wednesday, down by 20-30 yuan per tonne from 3,900-3,930 yuan per tonne
on Tuesday.
End users decreased procurement volume of rebar on Wednesday and instead
opted to wait for further price drop. Additionally, they hold su cient rebar
inventories for consumption in the coming days due to active buying in the
recent week, sources said.
This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
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If you need additional access please contact hello@fastmarkets.com
Thursday 30 November 2023 12
The arbitrage trade activity for rebar was also low on Wednesday because of
the price gap between January rebar futures contract prices and those in the
spot market, a trader in Shanghai said.
The weaker demand pushed down rebar prices on Wednesday and market
participants were bearish on the market for the coming days, sources told
Fastmarkets.
Production rates at rebar mills was higher compared with early November.
Rebar inventories may stop dropping this week due to weak demand, which
put downward pressure on rebar prices, an industry analyst said.
Market Chatter
“Some contractors plan to close their construction work in December, so their
demand for rebar will decrease gradually,” a second trader in Shanghai said.
Billet
Fastmarkets' daily price assessment for steel billet domestic, exw Tangshan,
Northern China was 3,630 yuan per tonne including value-added tax on
Wednesday, down by 20 yuan per tonne from Tuesday.
Shanghai Futures Exchange
The most-traded January rebar futures contract closed at 3,896 yuan per
tonne on Wednesday, up by 3 yuan per tonne from 3,893 yuan per tonne on
Tuesday.
Deacero to double northeast Mexico
scrap processing with new mini mill;
scrap prices rise
By Gabriela Brumatti - Wednesday 29 November
Mexico's largest long steel producer Deacero intends to double scrap
processing in Ramos Arizpe city with a new mini mill, with startup
planned for the rst quarter of 2026, sources told Fastmarkets on
Wednesday November 29.
The mini mill will produce 1.5 million tonnes per year of large sections up to 27
inches, very close to the existing minimill for small sections, from ¼ to 10
inches, which produces approximately 1.5 million tpy, equipment supplier
Danieli said in a statement on Monday November 27.
The new mini mill will also include a 150-tonne electric-arc furnace (EAF) with
“Zero-Man-Around” technology, which removes operators from hazardous
areas, namely raw material handling. According to the Danieli statement, the
mini mill will also be connected to enable data-driven decision-making and
analytics, and the possibility of managing AI-based models.
The new mill project, coupled with demand for scrap in the region, is
expected to have an impact on price movements of scrap, a Mexican scrap
seller in northeastern Monterrey city told Fastmarkets.
"All the plants [in the region] are ghting for the same scrap and we are
already unable to generate enough product for the [demand] that exists,"
the seller said.
Fastmarkets’ weekly price assessment of the steel scrap No1 heavy melt,
consumer buying price, delivered mill Monterrey was 6,900 pesos ($401) per
tonne on Tuesday November 28, up by 4.55% from 6,600 pesos per tonne on
November 21.
Deacero is one of the main consumers of scrap in Mexico and produces
around 4.5 million tpy of steel products, including rebar, wire rod, sections
and drawn products.
“Mexican mills are making heavy investments in [ the country’s northeastern
Coahuila state] that will undoubtedly intensify the demand for scrap”, a
© Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 13
second scrap seller in Mexico told Fastmarkets. mill with a capacity of 1.2 million tonnes per year over the next three years.
This mill facility will be able to produce 700,000 tpy of sections, and 500,000
In September, Deacero announced an investment of $1 billion to build a steel tpy of wire rod and rebar, according to local media reports.

Reinforcing bar (rebar) prices

Symbol Description Date Price +/- Month Monthly Average

Steel reinforcing bar (rebar) domestic monthly, delivered Brazil,

MB-STE-0008 10 Nov 2023 3865 - 3960 0.00% Oct 2023 3865 - 3960
reais/tonne

Steel reinforcing bar (rebar) domestic, delivered Northern Europe,

MB-STE-0036 29 Nov 2023 620 - 650 2.01% Oct 2023 602.5 - 625
€/tonne

MB-STE-0037 Steel reinforcing bar (Rebar) domestic, exw Italy, €/tonne 29 Nov 2023 610 - 630 1.64% Oct 2023 580 - 618.75

Steel reinforcing bar (rebar) import, cfr main EU port Northern

MB-STE-0051 29 Nov 2023 580 - 615 0.00% Oct 2023 560 - 580
Europe, €/tonne

Steel reinforcing bar (rebar) import, cfr main EU port Southern

MB-STE-0052 29 Nov 2023 560 - 580 0.00% Oct 2023 560 - 580
Europe, €/tonne

Steel reinforcing bar (rebar) domestic, cpt Moscow, Russia,

MB-STE-0066 02 Oct 2023 64000 - 72000 0.00% Oct 2023 61500 - 65750
rubles/tonne incl. VAT

Steel reinforcing bar (rebar) export, fob main port Southern Europe,
MB-STE-0073 29 Nov 2023 570 - 590 0.00% Oct 2023 530 - 546.25
€/tonne

MB-STE-0092 Steel reinforcing bar (rebar) domestic, exw Poland, zloty/tonne 24 Nov 2023 2680 - 2780 -0.55% Oct 2023 2733.75 - 2812.5

MB-STE-0112 Steel reinforcing bar (rebar) domestic, exw Egypt, E£/tonne 23 Nov 2023 36000 - 39900 1.34% Oct 2023 30500 - 34500

MB-STE-0119 Steel reinforcing bar (rebar) export, fob main port Turkey, $/tonne 23 Nov 2023 580 - 585 2.19% Oct 2023 556 - 562.5

MB-STE-0126 Steel reinforcing bar (rebar) domestic, exw UAE, dirhams/tonne 28 Nov 2023 2280 - 2505 0.00% Oct 2023 2238 - 2437

MB-STE-0127 Steel reinforcing bar (rebar) import, cfr Jebel Ali, UAE, $/tonne 28 Nov 2023 623 - 626 -0.16% Oct 2023 612.8 - 624.2

MB-STE-0142 Steel reinforcing bar (rebar) import, cfr Singapore, $/tonne 27 Nov 2023 548 - 550 0.27% Oct 2023 535 - 540

Steel reinforcing bar (rebar) index export, fob China main port,
MB-STE-0147 28 Nov 2023 595.63 0.25% Oct 2023 550.57
$/tonne

Steel reinforcing bar (rebar) domestic, ex-whs Eastern China,

MB-STE-0152 29 Nov 2023 3880 - 3900 -0.64% Oct 2023 3654.12 - 3671.18
yuan/tonne

Steel reinforcing bar (rebar) domestic, ex-whs Northern China,

MB-STE-0162 24 Nov 2023 3840 - 3880 -1.15% Oct 2023 3666.67 - 3690
yuan/tonne

MB-STE-0170 Steel reinforcing bar (rebar), fob mill US, $/cwt 29 Nov 2023 41 -1.20% Oct 2023 41.63

Steel reinforcing bar (rebar), import, loaded truck Port of Houston for
MB-STE-0171 29 Nov 2023 740 - 770 0.00% Oct 2023 762.5 - 792.5
immediate delivery, $/short ton

MB-STE-0438 Steel rebar domestic, exw India, rupees/tonne 24 Nov 2023 44100 - 44300 -0.90% Oct 2023 45575 - 45825

MB-STE-0784 Steel reinforcing bar (rebar) domestic, exw Turkey, lira/tonne 23 Nov 2023 20000 - 20600 0.74% Oct 2023 18600 - 19312.5

MB-STE-0897 Steel reinforcing bar (Rebar) domestic, delivered Spain, €/tonne 29 Nov 2023 590 - 615 0.00% Oct 2023 590 - 615

Wire rod prices

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0017 Steel wire rod (mesh quality) export, fob Black Sea, CIS, $/tonne 27 Nov 2023 540 - 545 0.93% Oct 2023 530.6 - 539.2

Steel wire rod (mesh quality) domestic, delivered Northern Europe,

MB-STE-0042 29 Nov 2023 630 - 635 0.80% Oct 2023 596.25 - 603.75
€/tonne

Steel wire rod (mesh quality) domestic, delivered Southern Europe,

MB-STE-0043 29 Nov 2023 600 - 620 0.00% Oct 2023 570 - 587.5
€/tonne

Steel wire rod (mesh quality) import, main port Northern Europe,
MB-STE-0053 29 Nov 2023 560 - 585 0.00% Oct 2023 560 - 585
€/tonne

This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 14
Symbol Description Date Price +/- Month Monthly Average

Steel wire rod (mesh quality) import, main port Southern Europe,
MB-STE-0054 29 Nov 2023 560 - 585 0.00% Oct 2023 560 - 585
€/tonne

MB-STE-0074 Steel wire rod export, fob main port Southern Europe, €/tonne 29 Nov 2023 570 - 590 0.00% Oct 2023 530 - 553.75

MB-STE-0120 Steel wire rod (mesh quality) export, fob main port Turkey, $/tonne 23 Nov 2023 600 - 610 0.83% Oct 2023 595 - 605

Steel wire rod (mesh quality) export, fob main port Latin America,
MB-STE-0130 03 Nov 2023 590 - 610 0.00% Oct 2023 590 - 610
$/tonne

MB-STE-0143 Steel wire rod (low carbon) import, cfr Southeast Asia, $/tonne 27 Nov 2023 545 - 550 1.39% Oct 2023 516 - 540

MB-STE-0148 Steel wire rod (mesh quality) export, fob China main port, $/tonne 28 Nov 2023 575 - 585 0.52% Oct 2023 541.25 - 552.5

Steel wire rod (mesh quality) domestic, ex-whs Eastern China,

MB-STE-0164 24 Nov 2023 4030 - 4070 -0.74% Oct 2023 3783.33 - 3813.33
yuan/tonne

MB-STE-0192 Steel wire rod (low carbon) industrial quality, fob mill US, $/cwt 21 Nov 2023 44 - 47 -1.09% Oct 2023 43.5 - 48.5

MB-STE-0193 Steel wire rod (high carbon), fob mill US, $/cwt 21 Nov 2023 60 1.69% Oct 2023 59

MB-STE-0194 Steel wire rod cold-heading quality, ddp, $/cwt 21 Nov 2023 63.5 2.42% Oct 2023 62

Steel wire rod (low carbon) import, loaded truck Port of Houston for
MB-STE-0195 21 Nov 2023 780 - 820 -10.11% Oct 2023 850 - 930
immediate delivery, $/short ton

MB-STE-0785 Steel wire rod (mesh quality) domestic, exw Turkey, lira/tonne 23 Nov 2023 21200 - 21700 0.94% Oct 2023 19450 - 20075

Steel wire rod (drawing quality), domestic, delivered Poland,

MB-STE-0891 24 Nov 2023 2900 0.87% Oct 2023 2800 - 2900
zloty/tonne

Steel beams, sections & bar prices

Symbol Description Date Price +/- Month Monthly Average

MB-FE-0001 Steel merchant bar export, fob main port Turkey, $/tonne 23 Nov 2023 610 - 620 0.82% Oct 2023 603.75 - 617.5

Steel hollow sections ASTM A500 Grade B domestic, fob mill US, $/short
MB-STE-0020 22 Nov 2023 1400 - 1480 0.00% Oct 2023 1155 - 1205
ton

MB-STE-0024 Steel beams domestic, delivered Northern Europe, €/tonne 29 Nov 2023 730 - 760 0.68% Oct 2023 722.5 - 772.5

MB-STE-0025 Steel beams domestic, delivered Southern Europe, €/tonne 29 Nov 2023 730 - 760 0.68% Oct 2023 722.5 - 772.5

MB-STE-0038 Steel sections (medium) domestic, delivered Northern Europe, €/tonne 29 Nov 2023 780 - 800 1.94% Oct 2023 730 - 820

MB-STE-0039 Steel sections (medium) domestic, delivered Southern Europe, €/tonne 29 Nov 2023 780 - 800 1.94% Oct 2023 730 - 820

MB-STE-0161 Steel sections domestic, ex-whs Eastern China, yuan/tonne 24 Nov 2023 3830 - 3850 0.00% Oct 2023 3703.33 - 3736.67

MB-STE-0199 Steel bar 2 x 2 x 1/4-inch angle merchant products, fob mill US, $/cwt 27 Nov 2023 55.8 0.00% Oct 2023 55.8

MB-STE-0200 Steel bar 3 x 3 x 1/4-inch angle merchant products, fob mill US, $/cwt 27 Nov 2023 56.25 0.00% Oct 2023 56.25

MB-STE-0201 Steel bar 8 x 11.5-inch channels merchant products, fob mill US, $/cwt 27 Nov 2023 55.5 0.00% Oct 2023 55.5

MB-STE-0202 Steel bar 1/2 x 4-inch at merchant products, fob mill US, $/cwt 27 Nov 2023 56 0.00% Oct 2023 56

Steel merchant bar, loaded truck Port of Houston for immediate

MB-STE-0203 27 Nov 2023 930 - 1010 0.00% Oct 2023 930 - 1010
delivery, $/short ton

MB-STE-0204 Steel bar cold- nished 1-inch round 4140 (alloy), fob mill US, $/cwt 17 Nov 2023 107.75 0.70% Oct 2023 107

MB-STE-0205 Steel bar cold- nished 1-inch round 1018 (carbon), fob mill US, $/cwt 17 Nov 2023 75.5 0.67% Oct 2023 75

MB-STE-0206 Steel bar cold- nished 1-inch round 12L14 (carbon), fob mill US, $/cwt 17 Nov 2023 96.5 0.52% Oct 2023 96

Steel bar hot-rolled special bar quality (SBQ) 1-inch round 4100 series
MB-STE-0207 17 Nov 2023 72 1.05% Oct 2023 71.25
(alloy), fob mill US, $/cwt

Steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series
MB-STE-0208 17 Nov 2023 59.5 0.85% Oct 2023 59
(carbon), fob mill US, $/cwt

MB-STE-0209 Steel beams 8 x 8-inch, fob mill US, $/cwt 26 Oct 2023 64.75 0.00% Oct 2023 64.75

This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 15
Symbol Description Date Price +/- Month Monthly Average

Steel beams medium sections, loaded truck Port of Houston for

MB-STE-0210 26 Oct 2023 1080 - 1200 -1.30% Oct 2023 1080 - 1200
immediate delivery, $/short ton

Steel hollow sections ASTM 500 Grade B import, ddp US port of entry,
MB-STE-0851 28 Nov 2023 1120 - 1180 -1.29% Oct 2023 1150 - 1180
$/short ton

Steel slab prices

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0781 Steel slab export, fob ports Iran, $/tonne 29 Nov 2023 468 - 473 0.00% Oct 2023 473

MB-STE-0566 Steel slab export, fob main port Brazil, $/tonne 24 Nov 2023 630 - 640 0.00% Oct 2023 516.25 - 535

MB-STE-0140 Steel slab import, cfr Southeast Asia/East Asia, $/tonne 27 Nov 2023 535 - 545 0.00% Oct 2023 524 - 533

MB-STE-0016 Steel slab export, fob Black Sea, CIS, $/tonne 27 Nov 2023 455 - 500 0.00% Oct 2023 438.6 - 497

Steel billet prices

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0782 Steel billet export, fob ports Iran, $/tonne 29 Nov 2023 464 - 472 0.11% Oct 2023 475 - 476.5

MB-STE-0558 Steel billet index export, fob Black Sea, CIS, $/tonne 29 Nov 2023 499 0.00% Oct 2023 477.05

MB-STE-0516 Steel billet import, cfr main port Egypt, $/tonne 23 Nov 2023 510 - 540 0.96% Oct 2023 511.25 - 530

MB-STE-0433 Steel billet domestic, exw India, rupees/tonne 24 Nov 2023 40500 - 40700 -1.93% Oct 2023 42200 - 42400

MB-STE-0440 Steel billet export, fob main port India, $/tonne 24 Nov 2023 475 - 510 -0.51% Oct 2023 477.5 - 552.5

MB-STE-0141 Steel billet import, cfr Manila, $/tonne 29 Nov 2023 530 - 535 0.00% Oct 2023 510.68 - 515.91

MB-STE-0157 Steel billet domestic, exw Tangshan, Northern China, yuan/tonne 29 Nov 2023 3630 -0.55% Oct 2023 3434.12

MB-STE-0890 Steel billet, import, cfr China, $/tonne 24 Nov 2023 460 - 465 2.21% Oct 2023 415 - 420

MB-STE-0116 Steel billet import, cfr main port Turkey, $/tonne 23 Nov 2023 515 - 530 -0.48% Oct 2023 496.25 - 512.5

MB-STE-0117 Steel billet export, fob main port Turkey, $/tonne 23 Nov 2023 550 - 560 0.91% Oct 2023 532.5 - 538.75

MB-STE-0115 Steel billet domestic, exw Turkey, $/tonne 23 Nov 2023 545 - 560 1.10% Oct 2023 526.75 - 535

MB-STE-0128 Steel billet export, fob main port Latin America, $/tonne 03 Nov 2023 500 - 510 0.00% Oct 2023 500 - 510

MB-STE-0122 Steel billet import, cfr Jebel Ali, UAE, $/tonne 28 Nov 2023 500 - 510 0.00% Oct 2023 490 - 500

Steel tube & pipe prices

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0022 Steel ERW standard pipe A53 Grade A, fob mill US, $/short ton 28 Nov 2023 1480 - 1530 6.74% Oct 2023 1380 - 1440

MB-STE-0023 Steel ERW standard pipe A53 Grade B, fob mill US, $/short ton 28 Nov 2023 1580 - 1630 6.64% Oct 2023 1480 - 1530

MB-STE-0056 Steel ERW standard pipe A53 Grade A import, cif Houston, $/short ton 28 Nov 2023 1100 - 1150 1.81% Oct 2023 1080 - 1130

MB-STE-0057 Steel ERW standard pipe A53 Grade B import, cif Houston, $/short ton 28 Nov 2023 1270 - 1320 1.17% Oct 2023 1255 - 1305

MB-STE-0059 Steel seamless line pipe - API 5LB import, cif Houston, $/short ton 14 Nov 2023 2100 - 2150 0.00% Oct 2023 2100 - 2150

Steel seamless OCTG API 5CT - Casing P110, import, cif Houston, $/short
MB-STE-0062 14 Nov 2023 1900 - 1950 -13.48% Oct 2023 2200 - 2250
ton

MB-STE-0063 Steel OCTG API 5CT - Casing J55, fob mill US, $/short ton 14 Nov 2023 1475 - 1525 0.00% Oct 2023 1475 - 1525

MB-STE-0071 Steel seamless OCTG API 5CT - Casing P110, fob mill US, $/short ton 14 Nov 2023 2500 - 2550 -13.68% Oct 2023 2900 - 2950

MB-STE-0090 Steel welded mechanical tubing ASTM A513, fob mill US, $/short ton 28 Nov 2023 1480 - 1560 19.22% Oct 2023 1250 - 1300

This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Thursday 30 November 2023 16
Symbol Description Date Price +/- Month Monthly Average

Steel structural pipe export S235JR grade EN10219 2mm wall thickness,
MB-STE-0166 08 Nov 2023 650 - 670 -7.69% Oct 2023 710 - 720
fob main port Turkey, $/tonne

MB-STE-0545 Steel ERW line pipe (X52), fob mill US, $/short ton 14 Nov 2023 1460 - 1510 0.68% Oct 2023 1450 - 1500

MB-STE-0561 Steel ERW line pipe (X65), fob mill US, $/short ton 14 Nov 2023 1725 - 1775 6.06% Oct 2023 1625 - 1675

MB-STE-0564 Steel welded OCTG API 5CT - Casing P110, fob mill US, $/short ton 14 Nov 2023 2300 - 2350 -6.06% Oct 2023 2450 - 2500

Steel welded OCTG API 5CT - Casing P110, import, cif Houston, $/short
MB-STE-0565 14 Nov 2023 1450 - 1500 -16.90% Oct 2023 1750 - 1800
ton

Steel OCTG API 5CT - Casing J55 import South Korean-made, cif
MB-STE-0869 14 Nov 2023 1375 - 1425 0.00% Oct 2023 1375 - 1425
Houston, $/short ton

Steel OCTG API 5CT - Casing J55 import non-South Korean-made, cif
MB-STE-0870 14 Nov 2023 1325 - 1375 0.00% Oct 2023 1325 - 1375
Houston, $/short ton

Steel ERW line pipe (X52) import South Korean-made, cif Houston,
MB-STE-0871 14 Nov 2023 1225 - 1275 -1.96% Oct 2023 1250 - 1300
$/short ton

Steel ERW line pipe (X52) import non-South Korean-made, cif Houston,
MB-STE-0872 14 Nov 2023 1325 - 1375 0.00% Oct 2023 1325 - 1375
$/short ton

MB-STE-0873 Steel ERW line pipe (X70), fob mill US, $/short ton 14 Nov 2023 1750 - 1800 5.97% Oct 2023 1650 - 1700

Stainless & special steel prices

Symbol Description Date Price +/- Month Monthly Average

Stainless steel cold-rolled sheet 2mm grade 304 transaction domestic,

MB-STS-0281 03 Nov 2023 2600 - 2680 1.54% Oct 2023 2550 - 2650
delivered North Europe, €/tonne

MB-STS-0035 Stainless steel 304 cold-rolled sheet, fob mill US, $/cwt 10 Nov 2023 177.5 -3.79% Oct 2023 184.5

MB-STS-0034 Stainless steel 304L cold-rolled sheet, fob mill US, $/cwt 10 Nov 2023 181.5 -3.71% Oct 2023 188.5

MB-STS-0037 Stainless steel 316L cold-rolled sheet, fob mill US, $/cwt 10 Nov 2023 261.5 -6.10% Oct 2023 278.5

Stainless steel bright bar grade 304 base price domestic, delivered
MB-STS-0005 03 Nov 2023 800 - 850 0.00% Oct 2023 800 - 850
Europe, €/tonne

Stainless steel bright bar grade 304 alloy surcharge domestic, Europe,
MB-STS-0004 03 Nov 2023 2952 - 3099 -3.72% Oct 2023 3067 - 3218
€/tonne

Stainless steel cold-rolled coil 2mm grade 304 export, fob China,
MB-STS-0282 29 Nov 2023 2050 - 2120 0.48% Oct 2023 2133.33 - 2223.33
$/tonne

Stainless steel cold-rolled coil, Asia grade 304 (2mm 2B), cif East Asian
MB-STS-0018 29 Nov 2023 1910 - 1930 -2.29% Oct 2023 1980 - 2030
port, $/tonne

Stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs

MB-STS-0015 29 Nov 2023 13700 - 13800 1.48% Oct 2023 14750 - 14833.33
China, yuan/tonne

Stainless steel cold-rolled coil 2mm grade 430 domestic, ex-whs

MB-STS-0016 29 Nov 2023 8100 0.00% Oct 2023 8300
China, yuan/tonne

MB-STS-0283 Stainless steel hot-rolled coil grade 304 export, fob China, $/tonne 29 Nov 2023 1950 - 2050 1.27% Oct 2023 2070 - 2140

Stainless steel hot-rolled coil Asia grade 304, cif port East Asia,
MB-STS-0280 29 Nov 2023 1790 - 1830 -3.21% Oct 2023 1943.33 - 1966.67
$/tonne

Stainless steel cold-rolled sheet 316 2mm alloy surcharge domestic,

MB-STS-0001 03 Nov 2023 3581 - 3614 -4.44% Oct 2023 3753 - 3776
Europe, €/tonne

Stainless steel cold-rolled sheet base price 316 2mm domestic,

MB-STS-0002 03 Nov 2023 1200 - 1250 0.00% Oct 2023 1200 - 1250
delivered Europe, €/tonne

Stainless steel cold-rolled sheet 2mm grade 304 alloy surcharge

MB-STS-0006 03 Nov 2023 2135 - 2152 -2.68% Oct 2023 2193 - 2212
domestic, Europe, €/tonne

Stainless steel cold-rolled sheet 2mm grade 304 base price domestic,
MB-STS-0007 03 Nov 2023 1000 - 1050 0.00% Oct 2023 1000 - 1050
delivered Northern Europe, €/tonne

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